GKN plc is to acquire Tozmetal Ticaret Ve Sanayi AS (Tozmetal), a powder metal part manufacturer based in the Istanbul Ataturk Free Trade Zone, Turkey. With sales in 2016 of €24 million, Tozmetal focuses much of its output on hydraulic pump components for European automotive customers.
‘We are very excited to welcome Tozmetal into GKN Powder Metallurgy,’ said Peter Oberparleiter, chief executive of GKN Powder Metallurgy. ‘Tozmetal is a well-run business that will complement our broad presence in the powder metals market.’
Completion of the acquisition is subject to approval from the relevant merger control authorities in Turkey and Germany.
This story uses material from GKN, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
